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Chart of Accounts data that gets converted from Small Business Accounting/Office Accounting

sba

The list of all accounts in your company is called the chart of accounts. The chart of accounts defines the accounts in your general ledger and categorizes them into assets, liabilities, equity, income, and expense accounts. The setup for your chart of accounts determines how your Profit & Loss and Balance Sheet reports look and what information they contain.

Account data that gets converted to Small Business Accounting/Office Accounting

The QuickBooks Conversion Tool converts most of your account-related data, except when the information is unique to Small Business Accounting/Office Accounting.

The following tables list the chart of accounts data that will be converted (or not converted).

Small Business Accounting/Office Accounting Account Type

QuickBooks Account Type

Bank

Bank

Cash (Petty Cash)

Bank

Accounts Receivable (Small Business Accounting/Office Accounting has only one A/R account)

Accounts Receivable

Other Current Asset

Other Current Asset

Inventory Asset (unique to Small Business Accounting/Office Accounting)

Other Current Asset

Cash (Undeposited Funds)

Other Current Asset

Fixed Asset & Accumulated Depreciation

Fixed Asset

Other assets

Other Asset

Accounts Payable (Small Business Accounting/Office Accounting has only one A/P account)

Accounts Payable

Credit Card

Credit Card

Current Liability

Other Current Liability

Long Term Liability

Long Term Liability

Equity

Equity

Income

Income

Cost of Goods Sold

Cost of Goods Sold

Expense

Expense

Other Income

Other Income

Other Expense

Other Expense

Small Business Accounting/Office Accounting Unsupported Account Type

Non-Posting

 

Small Business Accounting/Office Accounting System Account

Default QuickBooks Account (and Account Type)

Opening Balances

Opening Balances (Equity)

Accounts Receivable

Accounts Receivable (Accounts Receivable)

Accounts Payable

Accounts Payable (Accounts Payable)

Sales Tax Payable

Sales Tax Payable (Current Liability)

Cash Discounts Given

Cash Discounts Given (Income)

Cash Discounts Taken

Cash Discounts Taken (Cost of Goods Sold)

Undeposited Funds

Undeposited Funds (Cash Account)

Bank Charge

Bank Charge (Expense)

Retained Earnings

Retained Earnings (Equity)

Pending Item Receipts

Pending Item Receipts (Current Liability)

Job Resell Account

Job Resell Account (Income)

Write Off Account

Write Off Account (Income)

 

Account Info

Notes

Account Name

Account Name in Small Business Accounting/Office Accounting. Limited to 31 characters.

Account Number

Accounts are renumbered during the conversion process, so account numbers will be different between QuickBooks and Small Business Accounting/Office Accounting. The original account number is stored in the converted account's Description field.

Account numbers are limited to 7 characters and must be unique within the company.

Using Subaccounts

The Account name indicates the main (Parent) account name (by type). If you want to organize accounts, you can create subaccounts. For example, you might want to group the subaccounts "Electric" and "Water" under the account "Utilities."

New accounts

During the conversion, QuickBooks may create several new accounts in the new company file. For more information, see New accounts created when converting companies from other software.

See also

KB ID# H_SBA_CONVERTED_COA
12/3/2016 3:53:46 PM
QYPPRDQBKSWS05 9138 Pro 2017 45c8de